{"id":74907,"date":"2023-11-15T00:00:00","date_gmt":"2023-11-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/15\/air-arabias-bottomline-grew-26-y-o-y-in-q3-2023-on-the-back-of-rising-passenger-demand\/"},"modified":"2023-11-15T00:00:00","modified_gmt":"2023-11-15T00:00:00","slug":"air-arabias-bottomline-grew-26-y-o-y-in-q3-2023-on-the-back-of-rising-passenger-demand","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/11\/15\/air-arabias-bottomline-grew-26-y-o-y-in-q3-2023-on-the-back-of-rising-passenger-demand\/","title":{"rendered":"Air Arabia\u2019s bottomline grew 26% y-o-y in Q3 2023 on the back of rising passenger demand"},"content":{"rendered":"

E<\/strong>mirati low-cost carrier <\/strong>Air Arabia<\/a><\/strong>saw its net income rise 26% y-o-y to reach AED<\/strong>522 mn in 3Q 2023, <\/strong>according to quarterly financials (pdf)<\/a>. Revenues inched up by 1% y-o-y to AED 1.63 bn during the same period. This came as passenger volumes rose 21% y-o-y during the quarter. <\/p>\n

On a 9M basis: <\/strong>The airline\u2019s bottomline surged 53% y-o-y to AED 1.32 bn in 9M 2023, with revenues increasing 16% y-o-y to AED 4.45 bn. <\/p>\n

What they said: <\/strong>\u201cAir Arabia\u2019s record performance in the third quarter of this year was driven by robust passenger demand and effective cost control measures implemented by the management team,\u201d Chairman of Air Arabia Sheikh Abdullah Bin Mohamed Al Thani said in an earnings release<\/a>. <\/p>\n

Looking ahead: <\/strong>The airline remains \u201ccautiously optimistic,\u201d as airlines continue to navigate a \u201cturbulent geopolitical and macroeconomic environment,\u201d it said in the earnings release. <\/p>\n","protected":false},"excerpt":{"rendered":"

The carrier remains \u201ccautiously optimistic\u201d for the remainder of the year amid geopolitical and macroeconomic uncertainties<\/p>\n","protected":false},"author":1,"featured_media":74908,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[145,174,17,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-aviation","tag-earnings-watch","tag-enterprise-logistics","tag-uae","wpautop","entry"],"acf":{"mongo_id":"aff14913-119e-49e7-932a-1394e4901c1a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/754.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Air 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